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Search Results 0 to 47 of about 48 (some duplicates have been removed)
CNN
Jan 14, 2013 8:00am PST
to be responsible about this. entitlement problem that we have got with to force him on this debt ceiling issue. i know it seems like we have seen this movie before, but i think this is going to make a fiscal cliff fight look small because republicans are angry about what happened last time, they're angry at their speaker. they believe he capitulated an the spending cut side, they're not willing to do that again, and many republicans are willing to take this right to default and the president is going to say that's irresponsible. >> our senior congressional correspondent dana bash is here. the republicans say the nice's debt is exploding the deficit spending is exploding and they have got to do something about it right now. >> and just as gloria was saying there are certainly a number of rank and file republicans who are willing to make good on the threat that if the president, if the white house and democrats here do not agree to couple every dollar that we increase the debt limit with a dollar of spending cuts that they're willing to default on the u.s.'s loan and taking it to the next level, th
CNBC
Jan 17, 2013 12:00pm EST
of the good and bad. it enables constant debt ceiling issues into the future. >> yeah. it's going to coincide with the debate in washington. thanks for helping us tap us. one last note about e-bay. overall pretty good although there was some expectations that the numbers could have been even better given the overall growth trends in mobile and what pay pal did. the ceo will be on cnbc later on this afternoon. as we hit noon let's get back to headquarters. scott wapner and the "fast money" halftime. >>> carl, thanks so much. welcome to the halftime show. four hours to go until the close. here's where we stan right now on the street. the dow is just about at the highs of the day, up six out of the past seven days. disregard what we're shearing. we're talking about the market because it's higher today and here's what we're following on halftime. banking on the financials. more earnings results are in the books. last year's darlings running out of gas or taking a breath? inside intel the stock is up 8% over the past month. what's the play right now ahead of today's numbers. the traders debate it.
WETA
Jan 18, 2013 8:30pm EST
shellacked. they tried to force the issue using the debt ceiling in 2011 and using the fiscal cliff in january. i was as gung-ho as any of them to force obama into cutting spending in a government -- the government is spending us into penury. but it failed. the reason is, you cannot govern from one house of congress. that is the lesson. that is the truth. i wrote a column this morning saying, you have to recognize you cannot use these things because in the and you will have to cave. will be humiliated, your ratings will be low, as mark indicated, and you will not get the spending cuts anyways. realism has certainly taken over republican leadership, and i do not think that the republican house is going to want to go over the cliff. >> look and what has happened. the president has gone from dealing with the big problem that faces the whole country, to trying to destroy the republican party. is exactly what the public does not want. that is what is happening. we are turning into small, petty brinksmanship. let's see if we could crush the republican party. he has given up on a larger an
CSPAN
Jan 15, 2013 5:00pm EST
still play domiciled debt ceiling issue and i'm wondering if you can tell me what would have been if congress did not raise the debt ceiling and that would make it such a dangerous option for going forward. >> i think our credit rating would go down. and how would we pay the bills? how would we pay social security? how will we pay veterans? [inaudible] >> now, the republicans are saying pick and choose. and so let's have a vote here. which ones would we pick? which ones would not occur right away? i mean, the president was right to say in my judgment to the republicans, don't do it. you're playing with fire. >> i don't understand that i guess. why are they playing with fire? what would have been? >> those are two different questions. i think republicans have some idea what would have been. we've been through this with the credit rating and i think essentially they know what would have been in so they say let's pick and choose. either way, they haven't said which they would pick and which would be left aside. the president made clear, we are not talking about future expenses. we're
CNBC
Jan 14, 2013 3:00pm EST
ceiling issue. >>> then the ceo of the company that owns the stock exchange. up next with jeffrey sprecher. he will join me exclusively. >>> also facebook has been red hot lately. tomorrow there's a big announcement. could it disappoint or ignite a bigger rally for the stock? coming up. [ male announcer ] you're not the type of person who sets goals and only hopes to achieve them. so you'll be happy to know that when it comes to your investment goals, northern trust uses award-winning expertise to lead you through an interactive investment process. adding precision to your portfolio construction by directly matching your assets and your risk preferences against your unique life goals. we call it goals driven investing. your life has a sense of purpose. shouldn't your investments? ♪ expertise matters. find it at northern trust. office superstore ink retailer in america. now get $6 back in staples rewards for every ink cartridge you recycle when you spend $50 on hp ink. staples. that was easy. >>> welcome back. we're following a report that dell is considering selling itself to private equ
CNBC
Jan 15, 2013 3:00pm EST
-bills. at the end of 2011 the last time we had a debt ceiling issue we saw bill rates for four week bills and three-month bills start to move up. today we had a one-month bill auction, trading on at five basis points and the auction went off at 9.5 basis points and many are attributing to anxieties and rule 2a7 from the s.e.c. which gives you rules on what kind of time frames can you have with respect to holding in the money funds and a little bit of selling today may be from that group as well. >> anxiety over the debt ceiling crisis? >> exactly. about getting principal back as ridiculous as it may sound. >> david, jump in here. feels like a slow volume day again. are people waiting on some of the banks earnings because tomorrow we've, of course, got some bigies? >> waiting on earnings, but earnings expectations are very low. i think 60% to 70% of stocks will beat their estimates this quarter, and i'm going to watch for guidance over the balance of the year, maria. now you'll have three guests here who are going to be favorably disposed to the market and that makes me a little bit nervous. neverth
CSPAN
Jan 16, 2013 9:00am EST
'm still pleading ignorance on in this whole debt ceiling issue. i'm telling you what would happen if congress did not raise the debt ceiling that would make it such a dangerous option for going forward. >> i think our credit rating go down, and how would we pay the bills? how would we pay social security? how would we pay veterans? >> there wouldn't be any money? >> no -- >> [inaudible] >> the republicans are saying pick and choose. and so let's have a vote here. which ones would we pick? which ones would not occur right away? i mean, the president was right to say, in my judgment, to the republicans don't do it. you're playing with fire. >> but why? i haven't -- i don't understand that, i guess. >> why what? >> why are they playing with fire? what would happen in? >> but those are two different questions. i think the republicans have some idea what would happen. we've been through this with the credit rating. and i think, essentially, they know what would happen, and so they say let's pick and choose. by the way, they haven't said which they would pick. and which would be left as
CSPAN
Jan 15, 2013 11:00pm EST
this with the debt ceiling issue, what exactly would happen if congress did got raised the debt ceiling in what makes it a dangerous option of? >> our credit rating would go down and how would we pay the bills? how would we pay social security? how would be paid veterans? >> there is no money? >> the republicans say pick and choose. so let's have a vote. who do we pack? -- pick? the president was right to say, in my judgment, to the republicans, don't do it. you are playing with fire. >> why? why are we playing with fire? what would happen? >> those are two different questions. the republicans have an idea. we have been through this with a credit rating. they know what would happen so they say pick and choose. the president made clear we're not talking about future expenses but paying for what congress has voted. pick and choose is something at this point* is theoretical but will become very real without spelling out. you will not pay soldiers or send out social security checks are paid defense contractors? that is what is involved. >> of democrats feel this is dangerous is a net the republican advan
CSPAN
Jan 17, 2013 8:00pm EST
've been through this, i go back to the debt ceiling issue, and can you tell me what would happen if congress did not raise the debt ceiling, and if that would make it such a dangerous option for going forward. >> i think our credit rating would go down, and how would we pay the bills? how would we pay social security? how would we pay veterans? >> [inaudible] >> no. the republicans are saying pick and choose. let's have a vote here. which ones would we pick? which ones would not occur right away? i mean, the president was right to say, in my judgment, to the republicans, don't do it, you're playing with fire. >> i don't understand that, i guess. >> why what? >> why are they playing with fire? what would happen? >> those are two different questions. i think the republicans have some idea of what would happen. we've been through this with the credit rating. i think the sense is they know what would happen until they say let's pick and choose. by the way, they have not said which they would pick and which would be left, and the president made clear we're not talking about future exp
CSPAN
Jan 15, 2013 8:00pm EST
it as such should have been. i think we should extend if not end the debt ceiling issue. we should just set it aside for a considerable period of time. we should tackle sequestration and we have to do that in the next six weeks. so i'm hopeful that we don't drag this out as some people are saying and then move on to serious discussion of tax reform and entitlement issues. so i see it in a sense the opposite way. i say let it is done, the sequestration part in the debt ceiling in the next six weeks and then move on. those who are you saying let's do a triple by drivel, they are the ones who would be undermining the effort to sit down and had a serious discussion of tax reform. >> we have about two minutes left. francine. >> the question itemized reductions. what is your thought of having a cap and itemized deductions that people use for whatever they want. mortgage or a charity or whatever. >> i think the problem with a cat is that it has to seriously consequence, especially for charitable contributions. because a substantial portion of the charitable contributions come from the very wealthy. i think
CNBC
Jan 16, 2013 2:00pm EST
ceiling is an issue for down the road? base book suggests an issue for right now. let me get to other issues first and i will get back to that. rebounding from hurricane sandy. holiday sales modestly higher but appear to be below expectations. manufacturing is mixed with the outlook generally optimistic. real estate is up in all districts and real estate growth was moderate to strong in all districts. now we get to the fiscal cliff issues. hiring times are cautious especially for companies doing business in europe and defense. hiring plans specifically delays in six district due to fiscal uncertainties. let me show you individual comments from the districts when it comes to the fiscal uncertainties. real estate context with down side risk because of potential fiscal contraction. weaker holiday sales in new york to on-line shopping, mild weather and fiscal cliff concerns. in philadelphia, staffing agencies, watching reaction, quoting with serial fiscal cliff decisiones. cleveland, auto workers worried about the impact on sales. even in in dallas, where farmers are usually worried with
NBC
Jan 20, 2013 4:00pm PST
's a good thing over the longer term. we do have some issues coming up. the debt ceiling obviously one of them. the second question is we start to get the economic data. how big of a hit from the tax increaseses, payroll tax holiday, and what do those numbers which may be a bit on the soft side do to stocks? >> absolutely. that is the question of the day, isn't it, jared. the ceiling debate, the u.s. set to hit that $16 trillion limit on borrowing in the next month if we haven't hit it yet. let's take a listen to what president obama had to say about the potential battle looming in congress. >> markets could go haywire, interest rates would spike for anybody who borrows money. every homeowner with a mortgage, every student with a college loan, every small business own whole wants to grow and hire. >> jared, how does this play out? >> well, we're beginning to hear lots of sounds from republicans that we're in a compromising mode than we heard, say, a week ago. right now they're talking about perhaps an increase in the debt ceiling that lasts for a couple of months, that is offering that
NBC
Jan 20, 2013 2:30am EST
. i think the question is how much will these issues from washington, whether it's the debt ceiling, the sequester, the lingering uncertainty over the long-term budget picture undermine confidence, lower the valuations of u.s. companies because people just have less confidence in long-term trajectory. >> jared, president obama starts his second term next week. his inauguration, of course, monday. what has he done right in the last four years, in your view, what could he have done better or has he done wrong? >> four years ago right around this time when i was a member of the administration's economic team i was remembering just the juks of position about the great hope and expectations and just the real horror of what was going on in macro economy. gdp contracting at 9%, losing 700, 800,000 jobs per month. i think the president came in and hit very hard and broke the back of the great recession a lot sooner than people expected, certainly the financial markets were reflated much more quickly than -- and at less ek pence than people expected. and pretty soon, really by the second hal
CSPAN
Jan 16, 2013 7:00am EST
committee as to who should testify. the debt ceiling issue should become a partisan issue. i appeal to the republicans to realize they should not place us in that kind of jeopardy. there will be hearing. we will work on witnesses today. i hope we will be resolving who the witnesses will be. i think there'll be concentration as to who they pick and our choice, one witness out of four. host: might it be secretary geithner? guest: no. host: tony. hi, tony. caller: good morning. guest: where is olive branch? i have been across the bridge there. caller: the talk about congress and everybody is looking at discretionary spending. we're finding the black rhino but we cannot take care of grandma. otherbuilding mosques foreign countries. people have to worry about being on the street and being homeless. we send money to countries to improve their water systems. thinking about the pipes in china. money out of this country. he talked about people spending money and avoiding taxes. host: we will get a response. guest: i do not know the last figure. we do have foreign assistance. it is a small pa
CNBC
Jan 14, 2013 9:00am EST
on this debt ceiling issue. i know you've said you're not negotiating on it. your administration has ruled out the various ideas that have been up there, the 14th amendment just this morning one of the house democratic leaders jim clyburn asked you to use the 14th amendment and even said sometimes that's what it takes, he brought up the emancipation proclamation, saying it took executive action when congress wouldn't act and he compared the debt ceiling to that. are you considering a plan "b"? and if not, why not? >> well, chuck, the issue here is whether or not america pays its bills. we are not a deadbeat nation. and so there's a very simple solution to this. congress authorizes us to pay our bills. now, if the house and the senate want to give me the authority so that they don't have to take these tough votes, if they want to put the responsibility on me to raise the debt ceiling, i'm happy to take it. mitch mcconnell, the republican leader in the senate, had a proposal like that last year. and i'm happy to accept it. but if they want to keep this responsibility then they need to go ahead a
FOX Business
Jan 17, 2013 12:00am EST
of time. adam: let me interrupt you because we have had this debt ceiling essentially part of our discussion for almost 100 years, going back to 1917 with the issue of liberty bonds. now today we talk about the debt ceiling and we talk about its impact, this debate for the people who are watching, and, getting to this craziness we see the market reacting in a way you can't anticipate. what would happen to our 401(k) if congress he said they have to get together, i was thinking two words, "good luck." whether they can't do something? >> if they don't raise the debt ceiling and let's say we get debt downgrades, the market has a fit basically and drops as they did in 2011, all our investments will get hit. the stock market will go down as it did in a big way in the summer of 2011. on the other hand, if they extend the limits, the debt ceiling limit and do something more, maybe not a grand compromise, something more in terms of deficit reduction, my guess is the market will kind of shrug it off. they won't get upset. the issue is in the end what happens in the run-up read the politica
CSPAN
Jan 15, 2013 6:00am EST
word about the debt ceiling, which is not everybody understands what the debt ceiling is about. the debt ceiling -- raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it does not create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit ratings and i know how we can save money, we will not pay our credit card bills. not the most effective way to improve your credit rating. it was a very slow solution to the debt ceiling in august of 2011 that got the u.s. downgraded last time. so it's very important. all these issues are important, but it's very, very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government does not pay its bills. >> a number of people have expressed concern about how much of the challenges actually were addressed in the deal. it went part of the way, as you mentioned. but it leaves a number of issues still on the table and traditional negotia
CNN
Jan 13, 2013 10:00am PST
get the u.s. government past the immediate stumbling block of the failure to raise the debt ceiling. that's a legal matter. as a political matter, i think it's basically a nonstarter because it seems comical and it seems ridiculous. >> bruce, you suggest an alternate strategy which is one bill clinton has talked about and colombia law professors do. which is the president should essentially say, i have the implicit authority to raise the debt ceiling without congress, correct? >> that's right. of course, i'm not a legal scholar, but i do oppose the existence of the debt limit. i even testified before the senate finance committee that we should get rid of it. i think it's a dreadful left over from ancient history that simply creates opportunities for hostage taking by congress, such as the one we're facing right now and our foreign policy, we don't negotiate with hostage takers for a very good reason and i think that we need to get rid of this debt limit. but i'm perfectly willing to go along with the trillion dollar coin, if that's what's necessary to prevent this hostage from being
CNBC
Jan 16, 2013 4:00pm EST
broader macro issues, and i think it's the debt ceiling and sequestration talks, are really keeping the lid on the market so i don't suspect you'll see a real move up and through 1475 unless there's clarify coming out of washington. that's what i think the market really wants to hear. >> it sure does. rick, do you want to hear that? >> no, i don't think we will. but i do think the republicans are probably going to be more inclined when they come up with the weekend restreet strategy to pay more attention to the sequester side of the equation, my opinion. i agree with greg ip. if you're looking for the big run up in interest rates in 2013, at least in my opinion, you're going to be disappointed. here's what i still can't reconci reconcile. the beige book didn't give us a positive grow on jobs and on the 30th of month we'll look at the annualized pace of growth in the form of gdp, looking for 1.5%. another year where we don't see big tax revenues coming in because we're not creating a lot of jobs. the economy is growing less than 2%, and we're still bragging about what a great year it
CNN
Jan 13, 2013 7:00am PST
that this would be the big fight. that the fiscal cliff would not be the real issue. the debt ceiling would be. you see this as taking us close to the brink, again. could it take us over the brink? >> potentially. keep in mind that we have two other -- in addition to the debt limit. we have, in effect, two other fiscal cliffs approaching. one is the appropriations bills for 2013, which have not yet been finished and we'll have a government shut down unless they have, unless those bills are enacted and the second is the $1.2 trillion sequester, which triggered the fiscal cliff, but was only delayed by two months and that runs out, as well. so, we have the debt limit, the sequester and the appropriations all essentially coming due at more or less the same date. some time next month. my assumption is, i guess everybody else's is, these are somehow whether they're rolled into together into one massive punt the ball down the road bill. >> jeff, if any of this does end up in the supreme court, you know, let's say the administration does some kind of legal maneuver, what's the history of this? when t
PBS
Jan 14, 2013 5:30pm PST
the debt ceiling are real but so too are the consequences of allowing our spending problem to go unresolved. the spending and debt issues took most of the president's attention today, but he also turned to the issue of gun violence. after the shootings at an elementary school in newtown connecticut, he appointed vice president biden to come up with recommendations for action. the vice president met with lawmakers today and with groups on both sides of the issue last week. plans to submit proposals by tomorrow. president obama would not discuss specifics today. instead he said this. >> i'm confident that there are some steps that we can take that don't require legislation and that are within my authority as president. and where you get a step that has the opportunity to reduce the possibility of gun violence, then i want to go ahead and take it. >> brown: he conceded that a fight in congress is likely but he hopes that some compromise is is possible. >> the issue here is not whether or not we believe in the second amendment. the issue is are there some sensible steps that we can take to make
PBS
Jan 14, 2013 10:00pm PST
as three big issues: the government funding issue. that runs dry at the end of march. the debt ceiling. and these automatic spending cuts that take hold at the beginning of march. they want to use these opportunities. they don't think it's so bad to shut down the government or to default on the debt. they are even skeptical of the administration's estimates of when that will happen. so they see themselves really having very little leverage besides doing something which a lot of americans would consider extreme which is defaulting on the debt or shutting down the government. now i think it's virtually impossible that speaker john boehner will raise the debt ceiling without commensurate spending cuts. he's way too far out on a limb on that prospect. so it's going to be one of these huge battles its going to be something where one side has to blink first or the issues have to kind of meld together in a way that speaker boehner or president obama has a fig leaf in order to get this done. >> woodruff: jakewhat about the president's argument today? he said this several times. he said this is
CSPAN
Jan 14, 2013 11:00pm EST
that will include the story of raise the debt ceiling and also address the spending issue as they see it. >> and what is the -- is any of this complicated by the fact that treasury secretary tim is the geithner is eager to exit is posed? >> i don't think so. this is all about the president and what he wants. chief of staff, incoming treasury secretary, former omb office of management and budget director. he knows these issues. and so they have been through this exercise before, as you know, in the summer of 2011. this is nothing new, and i don't think it affected either way. >> thank you for the insight. >> anytime. .. monday evening the house rules commitey considered arguments on the relief bill. the senate passed a bill providing $60 billion in aid but the house did not take up that legislation. house republicans proposed a number of amendments to the relief package, including those requiring the aid to be offset by spending cuts. this is three hours. [inaudible conversations] >> be in order. good afternoon. delighted that we are holding our first rules committee meeting, mr. chairman
CNBC
Jan 16, 2013 6:00am EST
. will they lose the debt ceiling, too, will they force the issue or run scared because public opinion is not on their side? >> i think there are really three teams in washington. people on the left that include the president. people on the right, people who voted against boehner's plan b and people who want a deal done. i think in the end, people who want a deal done will prevail. maybe at the last hour or three hours after the last hour, we don't know. it was quite obvious the president was trying to blow up the deal on december 31st, while biden and mcconnell were out there negotiating, the president had a pep rally in the east room in which he directly attacked both the congress and the republicans, people trying to do the deal. any who's done any negotiations know what you should have done is praise the process, not attack the people in the middle of the process. i don't think the president liked that deal, i don't think he wanted a deal. i think he'd rather have the issue and i think in this case, he'd also rather have the issue. it will be very very hard to get a serious deal do
FOX Business
Jan 16, 2013 4:00pm EST
. issue number one is raising the debt ceiling which allows you to pay the bills we're already voted for. and that was already voted for. maybe they shouldn't have been, but already was voted for. not to raise the debt ceiling would cause the government to default on its debts interest rates would spike and destroy economy. david: i can't allow that to go by congressman, because there is no guaranty we would default as a result of reaching that point. i mean we have enough revenue coming in to pay off our bondholders. >> well, depends what you mean by default. if you paid bondholders at expense of not paying social security checks or salaries of military or salaries of the air traffic controllers the fact is we have 40% difference between the income coming in and the expenditures that were voted. that would be regarded by the financial markets as a default. david: it would require, more cut backs in spending. there is no question it would cause enormous, as you point out quite rightly, 40 cents of every dollar that we spend is borrowed. that is part of the problem. >> that's right. david
CNBC
Jan 14, 2013 5:00pm EST
of these quirky ideas that are out there. let's deal with the issue of raising the debt ceiling, which is the pomeresponsibility of congress. >> steve, thank you. >>> facebook is holding an event tomorrow, inviting people to see what they're building. jillian boarson has a preview. >> well, melissa, facebook has been keeping this event very much under wraps, but i don't think the announcement is about a new phone, i think it likely has something to do with mobile, considering the priority that has been put on making money from growing mobile users. it could be about a social search engine, though rbc warns that search would take a long time to pay off for facebook. >> search could be disruptive to google if facebook were to make a major play there. i think it's very unlikely that facebook would have any material success in search, you know, in a three-year period. >> he speculated that the announcement could involve a physical building, so, the company certainly has everyone guessing. now, facebook's mystery announcement comes on the heels of a slew of positive analyst reports. just to
CSPAN
Jan 19, 2013 11:05am EST
to do and authorize an increase in the debt ceiling so we can pay our debts. i think that is what will eventually happen. i do not think the going often the other direction would be that helpful. >> -- that going off in the other direction would be that helpful. >> i am a second year at the board's school. does the debt ceiling still have a practical purpose? could it be eliminated without much consequence? >> it has got symbolic value. maybe one or two other countries, but essentially no other countries and the world have this particular institution. the congress appropriates $100, tells the government to spend $100 on whatever, and then it raises $80 in revenue through its tax code. the arithmetic here says, you have to borrow $20. no, congress has to give a third 100-80 = says the 180at 20. logically, there is got to be something to make up the difference. the way to address it is by having a sensible plan for spending, insensible span foplar revenue. as i was saying before, this is like a family saying, we're spending too much. let's stop paying our credit card bill. that is n
FOX Business
Jan 17, 2013 1:00pm EST
other issues like the sequestered. republicans are floating a short-term debt ceiling increase with some modest cuts to deal with the automatic spending cuts that government funding levels and get back to an argument or discussion over the debt ceiling and spending levels once you reach the next few months. that is right now what they are discussing. they have not decided on that strategy. this is just the house republican strategy. it would then have to keep an over to the senate and agree with senate democrats and the white house. for republicans they say this is all about structural spending changes. >> i think it is very clear at this is not just the notion of paying back past dues for the united states but also making sure that the dead obama administration wants to continue to incur is restrained. >> reporter: republican leaders continue to meet with members discussing a number of different ways to deal with the debt ceiling, short-term mr. -- short term. also a longer-term extension of the ceiling that would involve larger cuts, structural changes to entitlements and tax reform, a
CNN
Jan 13, 2013 12:00pm PST
and the mini cliffs that we're going to encounter. the debt ceiling cliff, the southwe sequestration cliff and the budget battle. does it stand in the way of what could be happening in the country? >> it stands in the way in two ways. if you're a company that does business with the defense department, if you're watching this sequestration madness. our the debt ceiling madness, are you going to be hiring new people? are you going to be expanding production? no, you're going to be wondering, is the defense department budget cut by 20%, 10%? so there is that -- >> you will hesitate to make certain business decisions, particularly hiring decisions? >> exactly. republicans often talk about how uncertainty makes businesses not expand production. well this is the biggest uncertainty is the craziness over the debt ceiling. and the second biggest is on the sequestration. there's that piece of it. but there's the broader piece that you and i have talked about. which is we need to do more than just have a cyclical upturn. what you were describing very elegantly. exactly right, is that there's a cycli
CNN
Jan 17, 2013 4:00am PST
in the politics of that. he has fights around the debt ceiling coming up and to make this the issue, how do you think that will work? >> that's why i wonder how serious he is. i'm not questioning his motives. now he knows for the next two months all we're going to be talking about is the debt ceiling, sequestration, the continuing resolution, ending the fiscal cliff, all of these. >> you're not questioning his motives of what he's suggesting. he'd rather have a conversation about guns than the debt ceiling? >> i think the president is trying to get political support from his base, maybe he feels it strengthens him going into negotiations with the republicans or the fiscal issues. listen these guys won't even ban assault weapons, how can you trust them on taxes and spending. i see it as building up his political position which is not wrong but i don't think in his heart of hearts he thinks he's going to pass any significant legislation. >> congressman king in the studio after my asking all the time. >> i couldn't stay away from you, soledad. >> she's not really a tough interviewer is she? >> she
CNBC
Jan 17, 2013 9:00am EST
is this important? because we're back to this tax issue with regard to the debt ceiling potentially and revenues and we continually here about things in the past and i'll tell you this. talk to any family that's paying whatever rate they were paying in 2012 and that's the rate that makes their family work. whatever that tax rate works. it can cover their expense, buy books, scene their kids to school, put food on the table. it doesn't matter where the tax was a generation ago or three years ago because we assimilate, we're a productive capitalist society that assimilates. it on lie matters where you are. love steve liesman's presentation. it's about government spending. what i find fascinating, what we have here is on one side debt. on the other side we have stimulus but not really. okay. boy the board is even getting excited. but debt and stimulus are the same. it just depends on which side of the check you're on. the 1.2 trillion every year in debt is basically a stimulus. so why is it so shock or why is it that to stop increasing debt that once you do the numbers go down? you know what it's l
CNBC
Jan 15, 2013 6:00am EST
with the fiscal cliff, the debt ceiling, and other pressing issues. and finally radio shack is ending its mobile phone partnership with target. the venture has been unprofitable and radio shack has been unable to negotiate more favorable terms. >>> as you know, the house is set to vote today on a $51 billion superstorm sandy package that has already turned in to a bitter battle over spending. joining us now is congressman frank pallone, who represents the sixth district of new jersey, one of the hardest-hit areas of the jersey shore during the late october storm. and congressman, thank you for being here. this was a late october storm. we are now in january. this is still going back and forth. what's happened? >> well, unfortunately, the package was delayed. it was passed in the senate just before new year's, but then the house speaker refused to take it up, and you know, we were very critical of that, because the bill could have been passed in the house and become law with the president's signature and we'd be in the rebuilding process for the jersey shore right now. but now with more and more
CNBC
Jan 14, 2013 6:00am EST
was in it. >> very difficult. >> the debt ceiling is still around. >> easily, though. >> the debt ceiling is still around. you are still dealing with that and, of course, the sequester issue. there are a lot of questions about what happens. we're speccing to run into that debt ceiling sometime between february 15th and march 1st. in the meantime, let's talk about corporate news. aig is suiciding maiden lane over lawsuit rights. it's the federal vehicle created during aig's bailout. at issue is whether the insurer transferred its rights to sue for losses that it incurred on its troubled bonds when it sold $2 billion in securities to the fed in 20308. aig is preserving its right to sue the federal government and other debts. >> fed chairman ben bernanke is going to speak and answer questions at the university of michigan. in d.c., president obama is said to be forging ahead on a wide ranging plan to overhaul the immigration plan this year. this includes a path to citizenship for illegal immigrants already in the country. immigrants would have to pay fines and back taxes. it would require bu
CNN
Jan 19, 2013 1:00pm EST
identify two distinct issues we have to deal with. you said of the upcoming debt ceiling showdown, the president wants an automatic credit card and he's not going to get one from the congress. i like to point out, i understand why that analogy has been made and in the past i have made it myself, but i sort of decided that i don't like it anymore because the debt limit's different from a credit card in that with a with regard you charge items when you purchase them with the intent, the agreement to pay that. the debt limit is not actually a license to spend but to pay bills. a bit of an anachronism. only denmark has it elsewhere in the world. it forces a discussion on spending cut but it's not what the debt limit is for. >> your explanations have been right on target. let me tell you what i would wish the president would do. i hope the president's successful, because as a country if he's successful, we'll be successful. but he's got to begin to negotiate with the house and the senate to find a path forward on spending less and borrowing less or we're going to be on an unsustainable
CNBC
Jan 18, 2013 4:00am EST
saw the debt ceiling. so if that were to get into any kind of a logjam, not getting results, there can be some amount of sentiment that can impact us. and impact the customers and, therefore, to us. similarly in india, you look, the budget is going to come up in february. worry seeing further moderation in interest rates. but we still do not know, because quarter four tends to be a very good quarter. we have concern because we have very good revenue comes from india gee of fee. but some of those moves that will happen by the government and therefore the decision for investment and therefore there is a little bit of uncertainty. that is a big reason why we have given a guidance of .5% to 3% in large range. >> suresh -- >> based on the deal plan that we have, we feel that -- what? >> so just to be clear, you're basically saying just so people know what we're talking about, the guide kwans for the current quarter was between 1.2% and 3.5%. you came in at 2.4% revenue growth. your guidance for the next period is 0.5% to 3%. that was half a percent lower than the market was expecting. but y
FOX News
Jan 14, 2013 3:00pm PST
powers. charles krauthammer. okay, charles, start with the debt ceiling talk. what you heard from the president. >> the tone was remarkable. he talk about the republicans being suspicious of the social security and medicare by the oldest saw that you could hear. then he added making sure empovrished children get food. that's over the top. he said i love to hang out with a congressional picnic at these people who want to starve america's chirp. interesting ini havation. then he went over and over on the debt ceiling and he must have gone through the same idea 15 times. saying this is about honoring the obligation and paying the bills we have already incured. he raised the debt ceiling on how to depend on the ongoing financial assistance from the foreign country to finance the reckless, fiscal pollty. the point of raising the debt ceiling is to allow to us borrow. he talked about the debt ceiling a dozen times. not once did he use the word "borrow." that means we are going to continue to borrow for every dollar the government spend, only 60 cents of it come from taxes. the rest, 40%
Current
Jan 18, 2013 3:00pm PST
. the white house held a firm line on saying we're not going to negotiate at all on this debt ceiling, and it worked. do you think this is a lesson that may carry for four years, when they see themselves posturing this way rather than what they have done on other issues? do you think this might be contagious within the white house? >> remember bill clinton and what the definition of is, is. with barack obama it's sort of what the definition of negotiation is. they will deal with the debt ceiling, and that's when you will have very active negotiations over the budget. what the house has effectively done is put this on a similar path, a similar timetable as these other negotiations and the president may be able to say look, the debt ceiling is going to have to be raised regardless but house members can say well that's fine, but this is what we're demanding in terms of cuts. so maybe they are not linked except for the calendar, but at least in the minds of the republicans they certainly are linked. >> michael: yeah, i couldn't agree with that more. and that's a
FOX News
Jan 16, 2013 10:00am PST
. the and the debt ceiling is a restraint. what the democrats want is a blank check. i'm not sure it's constitutional because congress rules on the issue of money, not the executive branch. so, i'm not sure the constitutionality of it. if you did abolish this debt ceiling, you would pretty soon get yourself a downgrade. these rating agencies would say, your debt is just running away. you're not credit worthy. >> megyn: the debt ceiling is in place, it doesn't seem they trust our lawmakers to live within their moneys and with the money. when you look at 16.4 trillion, they're right, we're not living in our means. and there's a question, stu, you see that number, i think of my kids and think of my children. who is going to pay that number? it's probably not going to be me. >> right. >> megyn: it's probably going to be my kids. >> look, for what is it, 238 years america's had a principle, we sacrifice today for the benefit of our children in the future. you remove that debt ceiling and you totally reversed that financial principle. what you're saying is, we will make our children pay in the future for t
CSPAN
Jan 17, 2013 12:00pm EST
these issues. without going into all of the different ramifications i want to say a word about the debt ceiling which is not everybody understands what it's about. the debt ceiling which congress has to do periodically as gives the government money to pay its existing bills. it doesn't create new spending so it's like a family trying to improve its credit rating not the most effective way to improve the credit rating and was the slow solution to the debt ceiling in august of 2011 that of the u.s. downgraded last time brough so it's very important that congress take the necessary action to raise the debt ceiling to avoid a situation where our government doesn't pay its bills. estimate the number of people have expressed concern about how much of the challenges actually were addressed in the deal. as you mentioned is certainly went part way that leaves a number of issues still on the table and additional negotiations are learning to read what you characterize that as a class that is facing us or do you think that it's not as concerning as it was when you raised that term initially? >> as i said t
CSPAN
Jan 17, 2013 8:00pm EST
the sequestered, the debt ceiling, and you have the continuing resolution. the sequestered and debt ceiling fall on top of each other towards the end of february. these to say and republican leadership and the senate, which is served in for 12 years, you never take a hostage you cannot shoot. the problem with the house was they took hostage the cannot shoot when they took the fiscal cliff. if the republican members of congress take the debt ceiling as a hostage, it is a hostage you cannot shoot. as a very practical matter, if we go over the debt ceiling, we do not increase the debt ceiling, republicans will not win the debate. they will argue they are not increasing it because they do not want to control spending but they will not win the debate. what will happen is the white house will pay with cash flow of the interest on the debt. the debt will not be called. what they might not pay our social security checks. the moment the american citizen figures out they may not go out, the game is over. tenfold. because believe me, though congress can stand up to the senior lobby. so that is not a legiti
CNBC
Jan 18, 2013 9:00am EST
. that of course is bumping against and going through the debt ceiling. you know, when the president had his press conference discussing this i always like a good food analogy. his analogy was of course by not raising the debt ceiling we're not paying for the food we've eaten. basically at this big dinner we're at. i like it. let me give it a little slant my style. that is, it's not really a restaurant but an all you can eat buffet. there is no bill coming. the senate and house haven't passed a budget together in years. we have a revolving credit, a tab at this all you can eat buffet and nobody wants to get up. it is not like there is a clock where boom. here is your bill. we'll start the next 24 hours like your charting machines. nobody is ever getting up. it's just a meal that never ends. so how do you in essence stop the eating, stop the debt that is created by running up the tab? well, it seems easy enough but of course it gets messy and the politics are different than the principles involved. the house republicans seem to have finally figured that out. let's look at what some of the key playe
CSPAN
Jan 17, 2013 5:00pm EST
ahead of debt ceiling conversations, days after fiscal quick negotiations -- days after fiscal cliff negotiations. was that deal good for poor people? >> for 30 years, we have not addressed this issue, except for the wonderful work that you and cornel are doing in these wonderful people on the panel. politics has neglected the poor. one could say that there was a war on the poor rather than a war on poverty for much of this period. the united states has by far the most poverty of any of the high- income countries as a share of the population. we have the highest in quality. we have the most entrenched underclass. we have had the biggest increases of any quality by far, and we've had the least political response of any high- income countries, so we are standing out on our own. this has been a 30-year trend of soaring in comes at the top, stagnation in the middle, and falling through the floor on the bottom, and the political system has refused to address this for 30 years. so we have reached a calamitous situation in this country, but the fact of the matter is nothing that was done at
CNBC
Jan 17, 2013 6:00am EST
over the debt ceiling, you hit it, calamitous. and you have other words from damaging to manageable, republicans saying we can do this for awhile and it will be okay. i want to look at specific issues here. democrats say any missed government payment is a default. republicans say, no, only when you don't pay the interest on the debt. how about on the issue of can the government prioritize payments so that the incoming cash equals the outgoing cash? really the republicans -- i'm sorry, democrats saying no authority to do this and really no ability to program our computer system to do that. republicans saying you know what? the government can pay just the interest, social security and defense spending meaning military salaries. markets, of course, democrats say they're going to demand higher wage because of this. republicans will suggesting they'll overlook this gridlock. finally on the economy, a lot of folks saying it would cause a depression. republicans say, there are temporary effects here. now, okay, so let's do this. could you, if you were treasury secretary, so you make spendi
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